Comment Text:
i0-001
COMMENT
CL-05481
From:
Sent:
To:
Subject:
ODS-Michael < michael@odservices, biz>
Sunday, February 21, 2010 3:17 AM
secretary
Regulation of Retail Forex (Federal Register Release: 75 FR 3281)
NOTE: This is an additional response that I neglected to emphasize in my first repsonse
To whom it may concern:
I am not sure if this is proposed regulation, but one of the most egregious is the practice of some Forex Dealers of being a
"dealing desk". These types of dealers are akin to the predatory lenders of the subprime mortgage market.
When I asked one of these dealers about this activity they stated they do this for the benefit of the trader (i.e., to ensure they
can get into the trade). For those of us that educated ourselves on the Forex Market know that this is blatantly false as the
Forex market is the most liquid market out there and finding some to take your trade is never an issue (assuming you are
willing to trade at the prevailing market price levels of course).
Thanks,
Michael Catmull
